Five years ago waxed jacket queen Margaret Barbour's bank balance was a bulging #75m, making her the 10th richest person in the region... now she can't make the top 10.

Even more surprising is that a decade ago, Dame Margaret was the fifth richest woman in Britain, with a whopping #150m to her name.

Now she is way back at 88th on the list, with an estimated fortune of #48m.

However, far from being a fall from grace, her fortunes may have changed as a result of giving millions away to charity.

Since 1999, the intensely private businesswoman has donated a fortune to local charities and other causes, including the Women's Fund, the Sage Gateshead Music Centre, Sunderland University and farmers affected by the foot and mouth disease outbreak.

Dame Margaret, who was awarded the CBE in 1996, is only one of the region's business leaders failing to make it into this year's Top 10 Richest in the North East, published today by the Sunday Times.

Ian Coxon, the Rich List editor, who originally comes from Newcastle, said: "Margaret has moved down eight places from last year to 88 in the list of the top 100 richest women, but no longer figures in the North East list.

"She continues to give her money away and that's her personal choice.

"Her husband died at a very young age, leaving her to take over the business, but she is 66 now and obviously wanting to explore different things, such as her interest in women's issues."

Back in 2001, former Darlington Football Club chairman George Reynolds took the North East's number two slot with a fortune of #260m. Today, he is in prison and has lost most of his cash.

The one-time kitchen magnate -who famously rewarded staff by paying off their mortgages - was jailed for three years last year after pleading guilty to a #650,000 tax fraud.

George, 69, of County Durham, emerged from a childhood of poverty in Sunderland.

After falling into a life of crime - he became a safe cracker - George went on to become one of the region's best-known millionaires, spending millions on a home in London, a luxury yacht, a villa in Spain and a fleet of luxury cars with personalised number plates.

Ian said: "George didn't spend his money wisely and blew a lot of it on Darlington FC . . . and once people drop out of the list so spectacularly, it is rare we see them again."

Sir John Hall, a former Newcastle United chairman and the man behind the Gateshead MetroCentre, has also dropped out of the list, despite being at number eight in 2001 with a personal fortune of #80m.

Ian said: "Sir John was in the list until 2001, but that is the last we saw of him. His company, Cameron Hall Developments, made some losses in the late 1990s.

"We can't estimate his current wealth, he moved abroad... but he will still be rather wealthy."